Peter Wright captured his second PDC World Championship title after a 7-5 victory over Michael Smith in the final at Alexandra Palace.

The Scotsman claimed the top prize of £500,000 as he became the sixth multiple winner of darts' blue-riband event after Phil Taylor, John Part, Adrian Lewis, Gary Anderson and Michael van Gerwen.

It was his fourth title of the season, having already won the World Matchplay, Players Championship Finals and World Cup of Darts.

Wright, who also lifted the Sid Waddell trophy in 2020, was appearing in his third world final having hit 24 180s during his 6-4 win over compatriot Anderson in the semi-finals.

The 51-year-old took a 2-0 lead but 2019 runner-up Smith – who hit a record 83 maximums during the tournament – won five of the next seven sets to move two away from victory at 5-4 up.

However, Wright was not to be denied. The world number two, who also captured the World Matchplay title in July, averaged 113.93 during the next three sets as he won nine of the next 10 legs, before securing the crown on double 16.

Gerwyn Price will have the chance to become the world number one as he contests the PDC World Championship final against two-time champion and old foe Gary Anderson.

Price, the first Welshman to make the final, is one win away from becoming world champion and usurping Michael van Gerwen at the top of the rankings after an epic last-four win over Stephen Bunting.

The 35-year-old advanced 6-4 despite trailing 3-1 and 4-3 to Bunting, who was looking to add to his 2014 BDO title.

A gripping encounter saw a record 13 ton-plus checkouts, including eight from Price, matching the individual World Championship benchmark.

The Iceman favoured the double-10, making his first 10 in a row, including a nerveless effort to level the match, although he threatened to melt in the heat of battle and twice missed darts for the seventh set.

Further chances came and went for the third seed, yet the pressure eventually told and he decisively found tops moments after Bunting had supplied the 26th 180 of the match.

"It's the best I've played in this tournament, and I needed to," Price told Sky Sports.

Next up is Anderson, who has bemoaned gamesmanship at the tournament this week and will no doubt recall his controversial 2018 clash with Price in the Grand Slam of Darts final.

Price was fined for his antics in that match but will do well to get under the skin of Anderson this time.

Dave Chisnall, a 5-0 winner against Van Gerwen in the quarters, struggled to keep pace with the Scot, who will play a fifth PDC world final.

Anderson averaged 100 in a 6-3 triumph but said the semi-final "felt atrocious".

The final reunion with Price has come as a surprise, as he explained: "I thought Stephen Bunting. For me, to be honest, I was looking at a Bunting-Chizzy final, the way they've been playing."